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  • Category: Central Government

    Are you satisfied with Budget 2019?

    Our Finance Minister Ms. Nirmala Sitaraman has presented her maiden budget for the year 2019-20. She has taken more than two hours and quoted things in Hindi, Urdu and Tamil,

    Did you watch her Budget show? How do you feel about? Are you satisfied with her proposals?

    Your good and bad comments/satisfaction/dissatisfaction, please.
  • #669696
    The decrease in corporate tax from 30% to 25% is a great news for the industry and it will boost the industrial sector. The surcharge on rich is also a good step as for them this additional tax does not matter but matters for the Govt. Home loan side also the things will improve and realty sector will get a required boost. On personal tax side there is no change as last year many things were already announced. There are some good announcement for women related loans and overdrafts in their accounts. So, overall this is an industry aligned budget and the activity in the manufacturing should look up.
    Knowledge is power.

  • #669699
    I feel it is a very normal budget. In creasing tax on petroleum products is one thing which is not in the good favour of people. No tax for the people who are earning upto five lakhs is a good move. Decreasing the corporate tax by five percent will be welcomed by industrial sector. GST slabs on certain products like electric vehicles is a good move which will help in reducing the pollution problem.
    Surcharge on rich people who are earning more than crore is also a good move. But for a middle class person she might have helped by changing the slabs.
    There is a feeling that she has not considered Southern States much even though she is from South. No announcement about any special help to Andhra Pradesh.

    always confident

  • #669720
    Today, our Hon'ble Finance Minister Nirmala Shitharaman has presented the Union Budget 2019 in Lok Sabha. It was first budget of Modi Govt. after massive victory in Lok Sabha election 2019 where India elected a Govt. with full majority and with their aspirations in their minds for New India.
    FM Nirmala Sitharaman is the second female Finance Minister of India following Indira Gandhi. She has presented this budget with the vision of India's growth at 5 trillion U.S. Dollars economy. To achieve this target, she has made huge allocation for next generation infrastructure. She has choose to provide budget aiming to achieve long term goals by investing into infrastructure for rural area, farming, urban development, Swach Bharat Abhiyaan, Green energy etc. She has deprived herself from providing short term benefits or freebies and instead has focused on key areas of development for long term which in my opinion is bold budget.
    As far as taxation is concerned, FM has provided huge relief to corporate sector in order to help them for ease of doing business and job creation. There is no change in tax slabs for common men but additional tax slabs has been added for rich people earning income above 2 crores yearly.
    So, in my opinion, this budget is in focus for long term benefits, development of infrastructure of India, revival of business sector and job creation, clean energy and water conservation and also save environment. It is pro-poor budget and it will charge more from rich people.

    "Words are precious, ought to be used wisely." - Umang Shah

  • #669721
    There is nothing specific for the personal tax in this budget but there are some considerations for the industries and housing sector. The beget seems to be in a progressive direction rather than appeasing type. The riche people have to share proportionately to the Govt exchequer and in this budget it has been included. So overall it seems to be a good budget indicating towards development and infrastructural progress.
    Thoughts exchanged is knowledge gained.

  • #669724
    It is a post election budget. Personally I see it as a lacklustre budget from the viewpoint of a middle class person.
    The government is not under pressure from the general middle class public, as their duty is over and they have elected the government with a comfortable majority. The ruling side is slowly going to reach majority in Rajya Sabha also. So they need not feel pressure from the opposition also.

    But the government cannot resist or ignore international pressure and pressure from corporate who form the main backbone in financing political parties. This shows in the budget in more avenues and permission for foreign direct investment and reduction of corporate taxes and also incentives for housing.

    When some of the government benefits(at least in certain states) have income threshold well beyond 5 lakhs, it is not a very big thing to exempt 5 lakhs from tax. Moreover the tax slab does not favour those who slightly exceed 5 lakhs as the tax is levied fom 2.5 lakhs.( I would like to be corrected here if I have misunderstood here).
    If a family has a single salary earner with gross more than 5 lakhs, he is taxed. But if a family has more individuals each having less than 5 lakhs, they are benefited. I feel it should be family per capita average income that should become a criteria for tax.

    I am of the opinion that we should slowly move towards expenditure taxation rather than income taxation.

    There need much to be done on GST side. The present budget does not have clear cut plans on income or expenditure. To me it is vague as of now.

    May be we will be getting more details and clarity in coming days and during the Parliamentary debate on the bill.

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